Astrazeneca Sells Antacid Brand Neksium To Pfizer India For Rs 75 Cr
AstraZeneca AB, Sweden, has sold its antacid brand Neksium to Pfizer Ltd, which also owns Gelusil brand, for Rs 75 crore. The transaction is subject to completion of requisite clearances.
Launched in India in 2006, Neksium is one the leading brands in the anti-peptic ulcerant space. Neksium, with the active ingredient esomeprazole belongs to a class of pharmaceutical preparations called proton pump inhibitors (PPI), which are used effectively for reducing the acid secretion in the stomach. It is widely prescribed for the treatment of conditions across the acid peptic disorders (APD) spectrum.
“The Neksium acquisition is aligned with our stated ambition of portfolio expansion through organic and inorganic growth in our focus therapy areas. With this acquisition, we will accelerate our growth and strengthen our leadership position in the gastrointestinal (GI) therapy area,” commented S Sridhar, managing director, Pfizer Ltd.
With brands such as Gelusil & Mucaine, Pfizer Ltd has been providing effective solutions in the antacid space for over 30 years. “The company is uniquely well placed to grow the Neksium brand further through its existing reach, coverage and equity in the GI therapy area,” added Pfizer in a press release.
Source-Business Standard